Billionaire Wants to Start a Drug-Free High-Stakes Poker Tournament Circuit
Chamath Palihapitiya floated the idea of starting a unique high-limit poker tournament circuit that would prohibit players from wearing facemasks or using recreational drugs.
The billionaire entrepreneur who is close friends with Phil Hellmuth tweeted out some general details about his proposed poker tour. He asked his followers to share their thoughts on what would certainly become an intriguing venture.
Does Poker Need Such a Tour?
Palihapitiya, founder and CEO of Social Capital, was an early Facebook executive. The Silicon Valley venture capitalist isn’t just looking for a new way to make a buck. He’s an avid poker player who has competed on poker shows such as High Stakes Poker and plays in Hellmuth’s private games. But the question is, will the poker community love the idea?
The proposed high-limit tournaments would require that players pass a drug test, and that includes performance-enhancing drugs such as Ritalin and Adderall. Additionally, the circuit would not allow players to wear facemasks or sunglasses at the table. Hellmuth has, on multiple occasions, pushed for a facemask ban.
Palihapitiya then said his tournaments would have “reasonable hours and formats” to cater to those who don’t want to play a “turbo shove-fest” but also don’t want to play grueling hours. Hellmuth made headlines on Tuesday when he said he will be skipping the 2025 World Series of Poker (WSOP) Main Event due to the tournament’s lengthy structure.
Hellmuth’s footprints are all over the potential new high-stakes tour. Palihapitiya didn’t mention the specific buy-ins or locations for the tour. But he did say that the payouts would be in the millions and the games would take place in the United States.
The billionaire would be competing against the PokerGO Tour in the US throughout the year, and the WSOP during the summer. Triton Poker, a non-US tour, also hosts some of the largest buy-in poker tournaments in the world and will provide stiff competition for players.
Palihapitiya’s proposal has already generated some interest on social media, including from some top pros such as Shaun Deeb who wrote: “If you’re serious about this I can help you get to know the people need to hire to run it.” Daniel Negreanu gave the California resident some advice.
“Avoid California and the 7% tax it makes high stakes tourneys impossible. But I assume you already knew that.” Negreanu tweeted.
Drugs are out — including mushrooms and marijuana — but alcohol, per Palihapitiya’s response to one commenter, will be permitted. Now the poker community can sit back and wait to see if he follows through and launches one of the most unique poker circuits ever.
PokerNewsinterviewed Palihapitiya at the 2023 WSOP as he played in the $100,000 High Roller. It was his first WSOP appearance in over a decade.
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